As we enter the 3rd Quarter of 2017 in the middle of our summer sales season, I thought it would be helpful to assess the positive market trends so far for the State and island of Hawaii and the US for 2017. Below is a synopsis of some helpful statistics I gathered from the States largest escrow company-Title Guaranty, Corelogic and our Multiple Listing Service-Hawaii Information Service. The stats indicate a general positive trend with +6% average value increase nationwide-Year over Year-and for most areas of the State of Hawaii. For particular note, these stats show an above average, positive result for my particular market area: South Kohala Resort District: +15.51% Increase in median sales price of single family homes YTD 2017 vs. YTD 2016 South Kohala Resort District. +18.03% Increase in the total number of condominium homes sold YTD 2017 vs. YTD 2016 South Kohala Resort District. +15.61% Increase in median sales price of condominium homes YTD 2017 vs. YTD 2016 South Kohala Resort District. Again and importantl...

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Lau Le’a at Mauna Lani has just closed on the first 3 units in their community after almost 24 months of civil work and vertical construction of their product. Lau Le’a at Mauna Lani features detached and two story duplex plans that all include a small pool and spa. The detached units all face the ocean and feature ocean views over the fairway of the hole #1 of the Mauna Lani South Course. Lau Le’a at Mauna Lani offers the quality and low density the Mauna Lani Resort is known for in the past, raising the bar for the next wave of development within the resort. Quality finishes with a modern, tropical, esthetic accentuate the fine finishes including mahogany cabinets and trim, natural stone floors and luxury appliances and fixtures. -Click here to view Lai Lea’s floorpans and renderings. -Click here to see Lai Lea’s interior finishes. -Click here to view the current inventory in Lai Le’a at Mauna Lani. -Click here to view the Lai Lea site plan. -According to the developer’s website and developer’s rep...

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The developer’s representatives report approximately 45 total units left to sell in the community with 8 units in finished and ready to sell product.  Given Ka Milo’s historic absorption rate, I would estimate the community’s new home inventory will be sold out in December 2019. Here are the unit types and # of units to sell per floor plan: Detached Units with Pool/Spa 2: Hoku A / Plan 1 1: Hoku B / Plan 2 5: Makani / Plan 3 Duplex Units 16: Honua A / Plan 5 21: Mahina / Plan 4 Ka Milo’s elegant homes – with their double-pitched tile roofs and full-width lanai doors – are surrounded by the rolling greens and fairways of Mauna Lani’s North Course. Some floor plans enable homeowners to walk out of their property and go straight into a private pool and spa. Ka Milo’s kamaaina-style architecture testifies to the rich living cultural heritage of Hawaii’s royal past, with all the amenities of today’s easy and convenient living. Ka Milo offers an interesting collection of paired homes and single-...

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Kulalani at Mauna Lani offers the best value for a higher density community in Mauna Lani Resort featuring 4 and 6-plex buildings. New Construction Update Developer’s sales reps report that the last 3 buildings with 16 units total will be under construction or finished before the end of 2017. These are buildings 13, 14 and 15 composed of 2 six-plex buildings and 1, four-plex building. None of these units have been released for sale as of July 6, 2017. These last buildings are at the back of the community offering the least amount of through traffic and great views of the Mauna Lani North golf course. There are 21 total units to sell and complete the project. Based on sales from the previous 6 months the absorption rate is 1.5 units a month. By my best estimation the project will be sold out sometime at the end of the summer 2018. The Kulalani sales models are also for sale-units 102 and 104. Unit 104 is sold furnished and unit 102 is sold unfurnished. Kulalani at Mauna Lani New Home Price List Kulalani at Mauna Lani ...

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I’m often asked by clients for an update on The Villages at Aina Lea. For those not familiar with this development, it is the 1,099+ acre development, “mauka” of the Mauna Lani Resort-across the highway. Since 2009-10 the developer finished a majority of 40, two-story town-home buildings with distant ocean views. Selling the homes is a different story based on recent negative news regarding their attempted merger with a potential partner and source of public funding via the US stock market. The approximate 40 town homes are part of the affordable housing section of the development needed to be completed first by the owners to enable further and future construction. The developer expected to close a business merger with Origo Acquisition Corp., which is publicly-traded on the Nasdaq that would have helped finance completion of a stalled initial phase that includes the long-empty town homes. Pacific Business News reports the following from a recent article-click here for the entire article. This article does a great...

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The Shops at Mauna Lani has sold to Phoenix, Arizona based AT ML Leasehold HI, a holding company for Arciterra Companies, LLC, that specializes in retail developments across the mainland US. Their website lists properties in many states with both single and multi user retail centers. The Shops at Mauna Lani was originally purchased from the Mauna Lani developer Tokyu by Mark Richards via his MARYL development company in the early 2000’s as part of his purchase of land for The Villages at Mauna Lani. Bill Borkan purchased the property from MARYL and subsequently developed what is now The Shops. Bill Borkan’s family sold to the new owner on 5.12.17. The Shops at Mauna Lani feature tenants include Tommy Bahama’s Clothing Boutique and Restaurant, Ruth’s Chris Steak House and Foodland Farms Grocery Store. Exciting news for the current tenants and an opportunity for new tenants and new offerings for the resort owners and their guests-possibly! Arciterra’s website states the following: Based in Phoenix, Arizona, Arciter...

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Image used under license from Freestock.com Important news for those wanting to add a certain method to offset the ever increasing power charges from HELCO. Hawaii island residents “enjoy” the highest power charges in North America at almost 50 cents a kilowatt resulting in very high monthly power bills. The only method for avoiding these costs is to add a solar system to your home or condominium if allowed. Over the last year HELCO has closed the grid near and around the Kohala Coast including the Mauna Lani and other resorts to new systems. A recent newsletter from HELCO included this positive notification: The CGS program at all three utilities last year reached the capacity caps set by the PUC. To enable more customers to enroll, the companies proposed that space be transferred from approved but long-inactive rooftop projects. Estimates show at least 20 megawatts of CGS capacity is available for customers of the three companies, representing about 2,800 private rooftop solar systems. More than half of that capacit...

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Top U.S. and Foreign Buyers of Hawaii Property (PDF) | Top Buyers by Region (PDF) Canadians and Japanese buyers continue to rank as the top 2 foreign buyers of Hawaii Island and statewide properties.  Despite the current Canadian currency devaluation against the American dollar, Canadians continue to purchase property primarily in the South Kohala resorts.  Japanese buyers follow a similar pattern purchasing in South Kohala and extending their geographic buying pattern to Kona.  Japanese buyers purchased fewer properties than the Canadians but the dollar volume of their purchases were almost 100% higher therefore the purchase price of each property was higher. Californians continue to dominate our mainland buyers followed by fellow west coast states Washington and Oregon.  Texas and Florida buyers were also purchasing properties in the vibrant Hilo, Puna and Kau districts where unit volume was the highest in 2016 for Hawaii Island.  Thanks to Title Guaranty for great graphics and stats.

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One of the most beautiful beaches and a great way to see the manta rays that are numerous in our waters is to go to the Mauna Kea Beach Resort after sunset and walk to Manta Ray Point located on the north side of Kauna’oa Bay. Manta rays come into the bay at night to feed on the denser population of plankton basking in the lights that have been focused on this spot for 40+ years. Enjoy them gliding by below you or take a snorkel to get even closer! Contact us regarding the new communities in the Mauna Kea beach resort or search here now!

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Developer’s sales reps report that the last 4 buildings with 30 units total will be under construction or finished before the end of 2017.  Building 12 is under construction currently and has 1 unit under contract.  The remaining buildings, 13, 14 and 15 will be released and open for contracts soon.  The last buildings are at the back of the community offering the least amount of through traffic and great views of the Mauna Lani North golf course. Kulalani at Mauna Lani lies across 25.067 lush and manicured acres, along the fairways of the Championship Francis H. I'i Brown North Golf Course. It's the perfect setting for the 2 and 3 bedroom town homes, with their vaulted ceilings and private gardens.  Kulalani features 5 different floor plans located in 24 buildings for a total of 126 units.  Interior features include 8' interior doors, extensive trim, stone flooring and GE Profile appliances.  These 2 and 3 bedroom homes contain separate laundry rooms or closets, granite counter tops, sliding/pocketing doors, outdoor BB...

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